BPO Future Forward: 6 Ways to Drive Procurement Effectiveness

Download BPO Future Forward: 6 Ways to Drive Procurement Effectiveness

Post on 30-Jun-2015

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Keeping costs low through category and demand management, process improvement and supply chain optimization these have always been a procurement mandate. But today, the functions scope has expanded to include new deliverables enhance the revenue side of the P&L, leverage the supply market to help drive product (or service) range enhancement, open new channels to market, and more. While trying to accommodate and deliver on the new demands, a new paradigm is emerging one that covers the entire procurement function from strategy to transactional buying and all the enabling activities. For this, a skilled procurement team is essential a requirement that enterprises are grappling with today. To fill the gaps, augment and complement in-house strengths, enterprises are exploring specialist providers that bring specialized skills to the table. As enterprises look to leverage specialist providers, here are 6 ways to drive benefits with approaches that range from analytics-based to value-focused.

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1. THE SOURCING AND PROCUREMENT (S&P) SERIES6 ways to drive procurement@Infosys_bpo #Procurementeectiveness 2. THE SOURCING AND PROCUREMENT (SP) SERIES6 ways to drive procurement eectivenessThe mandate for most chief procurement ocers (CPOs) today isto deliver and sustain value year-on-year with limitedresources and budgets. Thats why they need a skilled businessprocess outsourcing (BPO) partner to make their procurementoperations more eective. Here are 6 ways to drive benets withapproaches that range from analytics-based to value-focused.@Infosys_bpo #Procurement 3. 1THE SOURCING AND PROCUREMENT (SP) SERIES6 ways to drive procurement eectivenessThis starts withachievingfunction-wide clarity@Infosys_bpo #Procurementon roles acrossspend categories,functionaldependencies withnance teams, andvalue deliverytargets by categoryportfolios2Execute a capabilitybenchmarkingassessment toidentify functionalperformance gapsand a valueassessment acrossthe full externalspend base tomaximizevalue deliveryGET THE RIGHTOPERATING MODEL BENCHMARK TARGETS 4. 3THE SOURCING AND PROCUREMENT (SP) SERIES6 ways to drive procurement eectivenessFind a BPO partnerwith a good mix ofseasonedprocurementprofessionals thatnot only augmentthe internal teams,but also bring to thetable, deep category@Infosys_bpo #Procurementexpertise andprocurementconsulting4Formalize structuredprocesses that bringfocus to areas likesupplier panelmanagementservices, contract topurchase, andcataloguemanagementBOLSTER STRATEGICCAPABILITIESDERIVE VALUE FROMTACTICAL ACTIVITIES 5. 5THE SOURCING AND PROCUREMENT (SP) SERIES6 ways to drive procurement eectivenessGet a dedicatedteam to monitoroperationalprocurementprocesses such asmaster datamanagement,invoice validation,and accountspayable processes@Infosys_bpo #Procurement6Leverage highcalibre specialistanalytics resourceswho can providecategory-specicdashboards, ad hocanalytics support,spend cubeanalytics, andbenets trackingENSURE COMPLIANCE ROBUST ANALYTICSAND REPORTING 6. THE SOURCING AND PROCUREMENT (SP) SERIES6 ways to drive procurement eectiveness@Infosys_bpo #ProcurementFIND OUT MOREBlog postREADWhite PaperREADInfographicVIEWNetwork with industry leaders at InfosysBPO.com/communityInfosysBPO.com/BPOFutureForward